The Campbell’s Company (NASDAQ:CPB) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its holdings in shares of The Campbell’s Company (NASDAQ:CPB) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,663 shares of the company’s stock after selling 3,727 shares during the period. Cetera Investment Advisers’ holdings in Campbell’s were worth $1,264,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CPB. Bank of Nova Scotia lifted its position in shares of Campbell’s by 3.7% during the fourth quarter. Bank of Nova Scotia now owns 36,746 shares of the company’s stock worth $1,538,000 after purchasing an additional 1,326 shares during the last quarter. Raymond James Financial Inc. bought a new position in Campbell’s in the fourth quarter worth about $21,312,000. Treasurer of the State of North Carolina lifted its holdings in Campbell’s by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 84,422 shares of the company’s stock worth $3,536,000 after acquiring an additional 530 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Campbell’s by 56.7% in the fourth quarter. Sterling Capital Management LLC now owns 11,472 shares of the company’s stock worth $480,000 after acquiring an additional 4,152 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in Campbell’s by 57.6% in the fourth quarter. Townsquare Capital LLC now owns 7,193 shares of the company’s stock worth $301,000 after acquiring an additional 2,630 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPB. Bank of America cut their target price on shares of Campbell’s from $37.00 to $33.00 and set an “underperform” rating on the stock in a report on Tuesday, June 3rd. Barclays cut their target price on shares of Campbell’s from $35.00 to $30.00 and set an “underweight” rating on the stock in a report on Monday, July 14th. Royal Bank Of Canada cut their target price on shares of Campbell’s from $44.00 to $38.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 3rd. Morgan Stanley cut their price target on Campbell’s from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Finally, Argus cut Campbell’s from a “buy” rating to a “hold” rating in a report on Friday, June 20th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.06.

Campbell’s Trading Down 1.4%

Campbell’s stock opened at $32.44 on Monday. The company has a 50 day moving average price of $32.15 and a 200 day moving average price of $35.80. The Campbell’s Company has a 52 week low of $29.39 and a 52 week high of $52.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 10.13 and a beta of 0.08.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Campbell’s had a net margin of 4.44% and a return on equity of 23.22%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that The Campbell’s Company will post 3.15 EPS for the current year.

Campbell’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.8%. Campbell’s’s dividend payout ratio (DPR) is 103.31%.

About Campbell’s

The Campbell’s Company, formerly known as Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.